More than 85% of businesses in India are family run. Due to their commitment and passion, the success of these businesses is making substantial contributions to the growth of the Indian economy. However, they face challenges in the transition phase and have a historically low success rate in managing transitions across generations. Continuity planning is vital for perpetuating a family business. Nurturing and developing the next generation of successors and leaders is the most daunting issue faced by the owners of family businesses.